Links in “Proposals, Requests, & Comments”
- Consumer Complaint Narratives: Don’t Forget to Comment
CUNA would like to remind credit unions that their comments on the proposed consumer complaint narratives are needed by September 22. Make your voice heard. [9/18/14]
- Proposal to Expand Complaint Database a “Solution in Search of a Problem”
Report says that on top of the overreach that the CFPB's proposed expansion of its consumer complaint database, superior consumer databases already exist, such as Yelp, which have commercial incentives to encourage accurate reviews and to provide a mix of reviews representative of consumers' actual experiences, not just a wall of complaints. [9/16/14]
- Vote: Points-and-Fees Fix
NAFCU backs a bill containing a points-and-fees fix which the House is set to vote on today. [9/15/14]
- House Bill Would Put Brakes on CFPB’s Indirect Auto Finance Guidance
H.R. 5403 would nullify the CFPB's 2013 indirect auto finance guidance and require the agency to provide a notice and comment period before issuing any new guidance. [9/12/14]
- Clarifying Confusion on the Community Reinvestment Act
The OCC, Board, and FDIC have joined together to propose that additional clarification be given regarding CRA regulations. [9/11/14]
- NAFCU, CUNA Urge FHFA Not to Increase G-Fees
NAFCU and CUNA are urging the Federal Housing Finance Agency to drop its proposal to, among other things, increase the guaranty fee (G-fee) as the increase could adversely impact the housing market. The G-fees are charged by FNMA and FHLMC to protect their portfolios against credit losses. [9/9/14]
- NY Takes Aim at Zombie Properties
New York bill would require banks to maintain properties in the foreclosure process that have been abandoned by their owners. It would also require lenders to notify owners that they do not have to move out until the process is complete, which can take years. The move is designed to reduce the number of "zombie" properties that fall prey to vandalism, decay and crime, which impacts their surrounding community as well. [9/9/14]
- Fed: Basel Is for Babies
Fed Governor Daniel Turullo is expected to tell lawmakers today that risk-based capital standards for banks in the U.S. will be tougher than the Basel requirements imposed on their European counterparts. [9/9/14]
- CFPB: Do We Need to Collect This Data?
The CFPB is inviting comments regarding its data collection practices, what kind of data should be collected, and the burden imposed through information collection. Now is the time to tell them how you feel. [9/9/14]
- What Counts as Economic Development?
Definition of what qualifies as economic development confusing you? The Fed, OCC, and FDIC are releasing a new question and answer document with more information on the CRA but first they want you to take a look and make a comment. [9/9/14]
